In a strange move, #Fitch just downgraded the US sovereign #ratings from AAA to AA+, with a stable outlook.
The #rating agency's justification is set out in this statement (link below).
I am very puzzled by many aspects of this announcement, as well as by the timing.
I suspect I won't be the only one. The vast majority of economists and market analysts looking at this are likely to be equally perplexed by the reasons cited and the timing.
Overall, this announcement is much more likely to be dismissed than have a lasting disruptive impact on the US #economy and #markets.
https://t.co/5cAw4p5Cwf
#econtwitter
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#French banking giant @CACEIS has obtained regulatory approval to offer #Crypto custody services, joining other #TradFi players in embracing the crypto realm. This move further strengthens the bridge between traditional #Banking and the crypto industry.
The apex bank has developed FAQs to douse the fire, but appears to defend itself against the indefensible.
K.T. Jagannathan writes:
#Banking
https://t.co/r1fUpY2E3G
What is the rationale for permitting lenders to enter into compromise settlements with borrowers classified as fraud or wilful defaulter? | K.T. Jagannathan
#Banking
https://t.co/r1fUpY2E3G
The “compromise settlement norms” announced a few days ago by the RBI have, predictably, raised a storm among the Opposition and other critics. | K.T. Jagannathan
#Banking
https://t.co/r1fUpY2E3G